Gas priced at $3.18 in 1964 → $39.27 in 2024

Gas Inflation Calculator

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Prices for Gas, 1964-2024 ($3.18)

According to the U.S. Bureau of Labor Statistics, prices for gasoline (all types) are 1,134.84% higher in 2024 versus 1964 (a $36.09 difference in value).

The current national average price is $3.18 for "Gasoline, unleaded regular, per gallon/3.785 liters". This data is collected by a national survey and can vary from region to region.

Between 1964 and 2024: Gas experienced an average inflation rate of 4.28% per year. This rate of change indicates significant inflation. In other words, gas costing $3.18 in the year 1964 would cost $39.27 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.93% during this same period, inflation for gas was higher.

In the year 1964: Pricing changed by -0.50%, which is significantly below the average yearly change for gas during the 1964-2024 time period. Compared to inflation for all items in 1964 (1.28%), inflation for gas was lower.

Price Inflation for Gasoline (all types) since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (38.97%), 2021 (36%), and 1974 (35.36%).

Price history

The average price for Gas is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.

Average prices for Gasoline, unleaded regular, per gallon/3.785 liters:

YearAverage price (Gas)Inflation adjusted price (2024 dollars)
2024$3.18 (latest available value)$3.18
2023$3.66$3.50
2022$4.09$3.51
2021$3.05$3.44
2020$2.17$3.34
2019$2.64$3.39
2018$2.74$3.39
2017$2.41$3.39
2016$2.14$3.40
2015$2.45$3.44
2014$3.37$3.45
2013$3.53$3.47
2012$3.64$3.49
2011$3.53$3.48
2010$2.79$3.48
2009$2.35$3.47
2008$3.27$3.51
2007$2.80$3.51
2006$2.59$3.51
2005$2.30$3.51
2004$1.88$3.51
2003$1.59$3.51
2002$1.36$3.49
2001$1.46$3.51
2000$1.51$3.50
1999$1.17$3.47
1998$1.06$3.45
1997$1.23$3.48
1996$1.23$3.46
1995$1.15$3.43
1994$1.11$3.37
1993$1.11$3.38
1992$1.13$3.39
1991$1.14$3.42
1990$1.16$3.44
1989$1.02$3.44
1988$0.95$3.49
1987$0.95$3.53
1986$0.93$3.59
1985$1.20$3.63
1984$1.21$3.70
1983$1.24$3.72
1982$1.30$3.76
1981$1.38$3.78
1980$1.25$3.81
1979$0.90$3.84
1978$0.67$3.85
1977$0.66$3.93
1976$0.61$3.90
View price changes for other categories
Rent of primary residence · Educational books and supplies · Phoenix, Arizona · Food · More

Buying power of $3.18 since 1964

Below are calculations of equivalent buying power for Gas, over time, for $3.18 beginning in 1964. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1964$3.18-0.50%
1965$3.324.42%
1966$3.381.83%
1967$3.482.94%
1968$3.531.43%
1969$3.653.33%
1970$3.680.83%
1971$3.700.55%
1972$3.751.26%
1973$4.119.77%
1974$5.5635.36%
1975$5.946.83%
1976$6.194.16%
1977$6.555.78%
1978$6.834.30%
1979$9.2535.34%
1980$12.8538.97%
1981$14.3011.30%
1982$13.55-5.27%
1983$13.10-3.31%
1984$12.88-1.64%
1985$12.990.84%
1986$10.15-21.91%
1987$10.564.07%
1988$10.650.84%
1989$11.669.49%
1990$13.3114.14%
1991$13.08-1.72%
1992$13.04-0.26%
1993$12.88-1.26%
1994$12.940.46%
1995$13.151.64%
1996$13.956.09%
1997$13.94-0.10%
1998$12.07-13.36%
1999$13.199.28%
2000$16.9428.40%
2001$16.34-3.58%
2002$15.29-6.42%
2003$17.8016.48%
2004$21.0418.17%
2005$25.6521.93%
2006$28.9812.97%
2007$31.368.19%
2008$36.5616.60%
2009$26.56-27.36%
2010$31.4418.38%
2011$39.7526.45%
2012$41.043.24%
2013$39.87-2.86%
2014$38.33-3.86%
2015$27.94-27.12%
2016$24.72-11.51%
2017$27.9012.88%
2018$31.7013.61%
2019$30.57-3.57%
2020$25.58-16.32%
2021$34.7936.00%
2022$45.8231.71%
2023$41.06-10.40%
2024$39.27-4.35%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Gasoline (all types):

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI13.15013.63314.22013.74012.94012.61413.32314.10814.25414.30014.24614.50816.36318.64019.14018.98019.52020.04021.34021.74022.16022.92023.77723.44623.73124.40824.15424.29224.25424.13325.20025.66026.41526.79227.68527.91528.06928.42331.20042.23145.11546.99249.70851.84670.16997.515108.531102.80899.40097.76998.59276.99280.12380.80088.469100.97799.23898.97797.73198.18599.792105.869105.76291.631100.131128.569123.969116.008135.123159.669194.685219.938237.959277.457201.555238.594301.694311.470302.577290.889212.007187.602211.770240.599232.003194.130264.017347.747311.574298.009

Adjust gas prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1964 * 1964 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Gasoline (all types) was 24.133 in the year 1964 and 298.009 in 2024:

298.009 / 24.133 * $3.18 = $39.27

Therefore, according to U.S. Bureau of Labor Statistics, $3.18 in 1964 has the same "purchasing power" as $39.27 in 2024 (in the CPI category of Gasoline (all types)).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Gasoline (all types) in 1935. In addition to gas, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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